By Exec Edge Editorial Staff
Grove Collaborative Holdings, Inc. (NYSE: GROV) said it saw record net revenue per order in the third quarter of $65.2.
The sustainable consumer products company also raised full year adjusted EBITDA margin guidance midpoint by 100 basis points. It had a positive third quarter adjusted EBITDA of $0.2 million, a first for the company, it said.
It also expanded retail distribution to 7,500 stores, including new partnerships with Wegmans and KeHE, it said.
“We will remain focused on profitability in the near-term while also pursuing a path for profitable growth in the second half of 2024 by becoming more meaningful in the daily lives of our customers and further embracing sustainability as our point of differentiation,” said CEO Jeff Yurcisin.